This invention relates to slip ring assemblies which are used in connection with rotating systems such as radar antennas, missile launchers, gun mounts and the like. In such rotating systems, slip rings are used to make electrical contact between conductors on the rotating portion of the system and conductors on the stationary portion of the system. In the past, one of the slip rings has been used to ground the rotating portion of the system to the stationary portion of the system. In the case of ships, or other structures where the rotating portion of the system is exposed to the atmosphere, problems rise when lightning strikes the rotating portion of the system or when a large electro-magnetic pulse field is encountered due to a nuclear explosion. In these cases, a large surge of current flows through the grounding slip ring, is cross-coupled to the other electrical circuits on the slip ring assembly, and may cause catastrophic failure of sensitive components on the other circuits.